Core & Main (NYSE:CNM) Issues Earnings Results, Beats Estimates By $0.04 EPS

Core & Main (NYSE:CNM) released its quarterly earnings data on Tuesday. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04, Briefing.com reports. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Core & Main updated its FY 2024 guidance to EPS.

Core & Main Stock Down 0.9 %

NYSE:CNM opened at $55.26 on Thursday. The firm has a market capitalization of $11.11 billion, a P/E ratio of 25.94, a PEG ratio of 3.63 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.34. The company’s fifty day moving average price is $45.03 and its 200-day moving average price is $48.06. Core & Main has a 1-year low of $35.03 and a 1-year high of $62.15.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CNM shares. Barclays upped their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wells Fargo & Company initiated coverage on Core & Main in a research report on Monday, September 23rd. They set an “overweight” rating and a $52.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Bank of America decreased their price objective on Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Finally, Robert W. Baird boosted their target price on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.30.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.